BlackRock CEO Fink Says AI Will Boost Productivity, Worker Pay

BlackRock Inc.’s Chief Executive Officer Larry Fink said that his firm’s investment in artificial intelligence will ultimately raise his employees’ pay.

“If we continue to drive more productivity, what it also means is rising wages,” Fink said on the company’s earnings call Friday. “So people do more, and the whole organization is doing more with less people. That is really our ambition.”

Fink credited the firm’s investment in AI with helping it hit a record $10.5 trillion in client assets. “As we continue to be investing in AI, our most recent experience of having $2.5 trillion more assets ...